Metro Goldwyn Mayer: Difference between revisions
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After Turner's brief involvement, MGM/UA ended up being sold to Italian financier Giancarlo Parretti, who also held French film company Pathe at the time. It turned out, however, that he had borrowed money for the deal under false pretenses, and after not being able to make the payments on the leveraged-buyout deal he'd used to buy MGM, his bank (Credit Lyonnais) foreclosed on him and took control of MGM and Pathe. Parretti ended up being convicted of securities fraud, and MGM ended up back with Kerkorian in 1997.
In 2006, MGM was bought by a consortium of investors led by [[Sony]], with [[Comcast]] as a minor stakeholder as well. The studio was then hit with hard times yet again, which temporarily halted [[James Bond (film)|a certain secret agent from going on his 23rd mission]] and [[The Hobbit (novel)|a certain little person's chance to go on The Greatest Adventure]]. In 2010, MGM declared bankruptcy in a deal in which the studio was turned over to its creditors, with Spyglass Entertainment assuming a management role. As the company is now purely a production company, MGM's newest productions have gone to various entities for distribution, with [[Lionsgate]] releasing ''[[The Cabin in the Woods]]'', Film District taking on ''[[Red Dawn]]'', Warner Bros. acquiring most rights to ''[[The Hobbit (film)|The Hobbit]]'', and ''[[Skyfall (film)|Skyfall]]'', the 23rd ''[[James Bond (film)|James Bond]]'' movie, staying with Sony.
MGM is also a partial owner of the This TV digital subchannel network with Chicago broadcaster Weigel Broadcasting, which consists mostly of films and series from the MGM library (though not the portion of the library Turner purchased).
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The studio's [[Vanity Plate]], Leo the roaring lion, has been widely spoofed and has several variations of its own. On April 16, 2009, MGM celebrated its 85th anniversary.
''Among the media produced in some form by MGM:''
* [[Ben-Hur]]
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